News

February, 2024

• 23 February

  Consumers Are Paying Off Sooner on Holiday Purchases Financed With BNPL Loans, Klarna Finds

  

  Shoppers financing purchases during 2023’s Black Friday weekend are paying off their loans sooner than they were a year ago. Some 30% of BNPL purchases made during that period in the United States were paid off early, compared to 24% a year earlier, according to BNPL provider Klarna AB. Overall, …
• 23 February

  Block’s Dorsey: Cash App Is Your New Bank, And Square May Enlist ISOs

  

  Block Inc. posted double-digit increases in net income for its December quarter and for 2023, but its co-founder and chief executive let it be known late Thursday the company has work to do. “Across the board, we’ve been going through an exercise in how we work so we can move …
• 23 February

  Google Pay’s U.S. Sunset And Other Digital Transactions News briefs from 2/23/24

  

  Alphabet Inc. will discontinue Google Pay, including its peer-to-peer payments capability, in the U.S. market on June 4, though it will maintain a Google Pay website.  In the place of Google Pay, which launched amid much fanfare in 2011, Alphabet is promoting Google Wallet, which appeared in 2022 with wider functionality than payments, …
• 22 February

  Will Cap One’s Deal for Discover Create ‘True’ Network Competition? Depends on Whom You Ask

  

  Capital One Corp.’s proposed acquisition of Discover Financial Services may give Cap One an alternative network over which to route credit card transactions, but the deal will not create the “badly needed” network competition that passage of the Credit Card Competition Act would, the Merchants Payments Coalition argues. Without passage …
• 22 February

  Eye on POS: Xenial Is CosMc’s POS System; Olo 2023 Revenue Rises 24%

  

  A new fast-food and beverage concept called CosMc’s is using the Xenial cloud-based point-of-sale system from Global Payments Inc. CosMc’s is a beverage-first restaurant developed by McDonald’s Corp. with one location so far. Xenial, a Global Payments company, supplies it enterprise-level POS system to CosMc’s. Xenial was originally part of …
• 22 February

  Zilch Tries 3-Month BNPL And Other Digital Transactions News briefs from 11/30/23

  

  London-based buy now, pay later platform Zilch said it will launch in April an option allowing users to spread interest-free payments over three months. A trial of the service is in progress with 100,000 Zilch users. The company, whose main offering requires repayment over six weeks, claims 3.6 million users overall. Yardi, …
• 21 February

  Eye on POS Tech: POS Nation Acquires GrazeCart; Toast Signs Caribou Coffee

  

  Point-of-sale technology provider POS Nation has acquired e-commerce platform GrazeCart for an undisclosed sum. The deal will provide POS Nation with access to an e-commerce platform that will expand its reach to new customers in food suppliers, such as farmers and ranchers that sell direct-to-consumer under their own brand, POS …
• 21 February

  Good News for Paze: 44% Would Use a Bank-Provided Digital Wallet

  

  When it comes to online checkout, consumers like using digital wallets. Seventy-two percent of them value digital-payment tools like digital wallets to make the online checkout easier, says Paze in its inaugural Paze Pulse report. Paze is an upcoming digital wallet from Early Warning Services LLC. Backed by seven large …
• 21 February

  AfterShip Apple Wallet Updates And Other Digital Transactions News briefs from 2/21/2024

  

  AfterShip, an e-commerce service, said it has enabled merchant users to get real-time delivery updates and track orders through Apple Wallet. Fortress Payments, a fintech for credit card issuing and acquiring, said it will work with AI-software provider Paravision to update Fortress’s Payment Identity Platform via face-matching and “liveness” technology. …
• 20 February

  For Cap One, the Pulse Network Is the ‘Rare Asset’ in Its $35.3 Billion Deal for Discover

  

  (Editor’s Note: This story follows up on news late Monday concerning a planned acquisition of Discover Financial Services by Capital One Financial Corp.) On the Tuesday morning after news broke that credit card giant Capital One Corp. intends to shell out $35.3 billion in an all-stock deal to acquire Discover …